Facts and figures about Tekes startup funding
Tekes is a government organisation working under the Ministry of Employment and the Economy in Finland. Our goal is to develop Finnish companies and research organisations' expertise and boost businesses to global markets. Our funding and expert services are offered to Finnish research organisation and companies, especially to SMEs that are aiming to grow their international business and exports.
In 2015, the total Tekes funding budget was €575 million. Around 65% of the funding was targeted to companies' research and development projects. Our services are free of charge and we do not demand any ownership or share of the company.
On this page you will find information about Tekes funding to startup companies. Please visit the Results and impact page for more information about the overall activities of Tekes.
Tekes startup funding statistics 2015
Funding for startups €140 million (companies less than 6 years)
- Startups applied nearly 50 per cent of Tekes funding for companies
- startup funding accounts 24 % of Tekes total funding budjet
- 50 % of startup funding goes to companies less than 3 years
- The average size of a startup company funded by Tekes employs 6 persons
Tekes funded around 700 startup companies in 2015
- Around 1000 startup companies apply for funding yearly (around 1100 funding applications)
- At the initial stage we accept 60-70 per cent of the applications. In order to get to the next funding stage, the startups needs to show it has met the targets agreed for the first-stage funding and developed its business forward.
Infographic November 2016
The Nordic countries have Europe's fastest developing startup scene. Helsinki is one of Europe's most rapidly growing regions with an upward trend of entrepreneurship and an abundance of tech talent and creative professionals.
Helsinki offers startups an easy business environment with excellent facilities to test and develop new innovations. The city is home to around 500 tech startups that form an active and compact community. Every November Europe's leading startup-investor event Slush gathers over 15 000 people from all over the world in Helsinki to connect, learn and have fun.
Read more facts about Helsinki startup scene in this infographic.
In 2015, Tekes offered a total of €140 million for approximately 700 Finnish startup companies to help them develop innovative products and services and grow to international markets.
Tekes' total funding budget was €575 million. Around 70 % of the annual company funding is targeted to small and medium sized (SME) companies' development projects. Around 38 % of these companies are startups that have operated less than 6 years.
Tekes startup funding services are designed for young companies in different stages of their business development. The most successful startups can apply to the Young Innovative Company funding scheme, which enables them to rapidly scale-up their business globally.
To find out more details about Tekes funding, please visit our data resource centre where you can search projects and organisations that have been awarded Tekes funding in the past years.
1) Nordic region is the fastest growing startup region in Europe. Finland and its capital Helsinki is quickly becoming one of the leading startup hubs in the world.
2) Finland's top startups business areas include gaming, software and digital services, health tech and environmental and energy industries.
3) Startups benefit from the world's best education system, strong ICT expertise and easy business environment
4) Tekes - the Finnish Funding Agenfy for Innovation offers funding services for early-stage companies and encourages and supports universities to commercialise their ideas.
5) Slush, Europe's coolest startup-investor conference, gathers investors, companies and media from over 100 countries to connect in a unique atmosphere every November in Helsinki.